The Reliance Power shares have been on an uptrend in FY27. After ushering in the new financial year 2026-27, the has been skyrocketing continuously. The Anil Ambani-owned have risen from ₹20.36 apiece to ₹28.58 on the NSE in April 2026, recording over 40% rally in this month.
According to experts, the rally in Reliance Power shares is not random. They said the ADDAG group’s stock is rising on strong fundamentals, with the biggest trigger being the recently achieved debt-free status, which has driven value buying at lower levels.
Experts said Reliance Power shares are looking strong on the technical chart, especially after breaking out at ₹20 apiece. They are expecting the stock to touch ₹36 to ₹40 apiece in the short term. On breaking above this hurdle on a closing basis, they predicted a new Reliance Power share price target of ₹45 per share.
Triggers for the Reliance Power shares
Speaking on the reason for Reliance Power shares’ sharp rally in April, Abhinav Tiwari, Research Analyst at Bonanza, said the move is not entirely random. At a fundamental level, the biggest trigger has been the improvement in its balance sheet. The company has largely become debt-free at the standalone level, a major shift from its earlier high-leverage position. This has led to a re-rating, as the earlier concerns about excessive debt and weak execution have started to ease.
“At the same time, the company has returned to profitability in FY25 after years of losses. This has improved investor confidence, even though the sustainability of earnings remains under evaluation. Operationally, its key assets like the Sasan and Rosa power plants are performing well, providing stable cash flows,” the Bonanza expert said.
Foray into the renewable energy business
Abhinav Tiwari of Bonanza said that the company’s pivot towards renewable energy is another big factor driving Reliance Power’s share price rally. Its entry into solar and battery storage projects has created a new growth narrative, and the market is assigning value to this future potential. Developments such as the Bhutan project and international bid opportunities have further supported sentiment, even though they are still at an early stage and not yet contributing meaningfully to earnings.
Why are RPower shares rising before Q4 results?
On the reasons for the company’s shares rising ahead of the Q4 results 2026, the Bonza expert said the rally’s timing indicates the market is pricing in expectations rather than reacting to actual numbers. Investors are betting that upcoming results will confirm the turnaround and that FY26 could show improved earnings visibility. In that sense, the rally is forward-looking and driven by anticipation.
Reliance Power share price target
Analysing the technical chart of Reliance Power shares, Ganesh Dongre, Senior Manager — Technical Research at Anand Rathi, said, “On the weekly chart, Reliance Power has shown a clear trendline breakout, indicating a potential shift in the long-term trend from bearish to bullish. The stock has already formed a strong base around the ₹20 level, which now acts as a key support zone. At the current market price of ₹28, it is trading above the breakout level, reflecting positive momentum and the likelihood of further upside.”
The Anand Rathi expert said that the immediate resistance for Reliance Power shares lies in the ₹36-40 zone, which marks a previous supply area, while a sustained breakout above this range could push the stock towards the ₹45 level.
Unveiling investment strategy regarding Reliance Power shares, Ganesh Dongre of Anand Rathi said, “Traders may consider buying at the current price with a strict stop-loss at ₹20 to manage risk, targeting ₹36 to ₹40 in the near term and ₹45 in the extended move, making the setup favourable from a risk-reward perspective.”
Anil Ambani’s shareholding in Reliance Power
According to the shareholding pattern of the ADAG group company for the March 2026 quarter, Anil Ambani owns 4,65,792 shares, or a 0.01% stake, as a promoter. His wife, Tina Ambani, and son, Anmol Ambani, hold 0.01% stakes in the company, whereas his mother, Kokila D Ambani, holds a 0.02% stake. These family members also hold company shares as promoters.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.